Paytm & peers party on D-St on UPI charge news
Paytm, MobiKwik, and Pine Labs experienced a surge in their shares on Wednesday following the government's announcement of a new Merchant Discount Rate (MDR) on select UPI transactions above Rs 2,000. Paytm shares climbed 6% to a day's high of Rs 1,829, while MobiKwik Systems rose over 5% to Rs 213 and Pine Labs gained nearly 3% to Rs 199.
The National Payments Corporation of India (NPCI) explained that the government will introduce the MDR starting October 15, with merchants paying 0.4% on transactions above Rs 2,000, with a maximum fee of Rs 300 for payments of Rs 75,000 or more. Small merchants under the Person-to-Merchant (P2M) framework, including vendors receiving up to Rs 1 lakh monthly through UPI QR codes, will remain exempt from the MDR.
The Reserve Bank of India supported the MDR, stating that it will help ensure the long-term sustainability of India's digital payment ecosystem.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
